| Deal Description | Harvey Aluminum (Incorporated) initially applied the net proceeds from this transaction to its general funds. The company intended to use the proceeds to assist in its development as a fully integrated producer of aluminum and aluminum mill products. At that time, the company's expansion program included a 350,000 ton aluminum plant in St. Croix, United States Virgin Islands; a 60,000 ton aluminum rolling mill in Lewisport, Kentucky; participation by a subsidiary of the company with the government of Guinea in a project for the development of the bauxite reserves of northwest Guinea; participation with a Norwegian corporation in a project to establish an 84,500 ton aluminum reduction facility and a 52,900 ton fabricating facility in Karmoy, Norway. |
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